N.Y. Banking Law § 208: Nondiscriminatory treatment of insured state banks and national banks

§ 208. Nondiscriminatory treatment of insured state banks and national

banks. Notwithstanding any other laws of this state, a state bank, which

is incorporated in another state and whose deposits are insured by

Federal Deposit Insurance Corporation, shall have the same protection,

privileges and immunities, including the right to sue, collect debts,

realize on collateral security, enforce liens, claims and obligations,

and protect its property in this state, as a national bank whose

principal office is located in the same state as such state bank, and

such state bank and its shares, securities and evidences of indebtedness

shall enjoy the same privileges, protections and immunities as those of

such a national bank and shall not be subject to any disability,

incapacity, restriction, regulation, penalty, fee, fine or taxation

which is not imposed by this state in the case of such a national bank,

provided however that this section shall not apply with respect to any

state bank and its shares, securities and evidences of indebtedness

unless such state bank's state of incorporation has a statute with

provisions substantially similar to this section which is applicable to

a state bank incorporated in this state. As used in this section the

term "state bank" shall mean any commercial bank or trust company.